Key takeaways:

• Crypto wallets are essential for storing cryptocurrencies
• You are in complete control of your wallet’s security (non-custodial)
• The best crypto wallets support a wide range of digital assets across multiple blockchain network
• There are likely to be new crypto wallet applications as the crypto industry experiences more innovation and growth

Crypto wallets play a vital role in the management of digital assets. Primarily used for securely storing cryptocurrencies, these wallets also provide a platform for buying, selling, and trading activities within the crypto space.

Additionally, some crypto wallets provide users with a way to store and access a wide variety of digital assets from different blockchains all in one location. There are different types of crypto wallets available today.

Phantom Wallet

Key Features of Phantom Wallet:

• Phantom supports only Solana based tokens, NFTs and collectibles
• Allows staking with SOL
• Multi language support 
• Compatibility: desktop and mobile (iOS)

Phantom Wallet is a non-custodial wallet developed to support crypto assets solely within the Solana ecosystem. Apart from providing a platform for storing crypto assets and NFTs, this wallet also allows users to stake their SOL and earn passive income.

Originally developed as a desktop wallet, this crypto wallet is compatible with Firefox, Edge, Chrome, and Brave browser. Apart from the desktop wallet, there is a mobile wallet for IOS users. However, Phantom does not offer a mobile app for Android users.

The Phantom Wallet is compatible with the renowned cold wallet storage platform Ledger. Although recently launched in 2021, its user base is on a steady increase largely due to the NFT boom.

Exodus

Key Features of Exodus:

• Offline storage with Trezor hardware
• Easy market Monitoring and accurate transaction records
• Fantastic extra features like the SportX allow you to bet on sports in Exodus
• Compatibility: Android, IOS, OS X, Windows, and Linux

Exodus is a decentralized non-custodial wallet that guarantees its users 100% control over their crypto assets. Exodus was developed to provide users with a visually engaging and intuitive wallet experience.

Previously, the Exodus wallet was primarily designed to operate as a desktop-only wallet. However, a mobile app version has been developed for Android and IOS smartphones and tablets.

Currently, this crypto wallet supports over 165 digital assets, a high figure compared to many other hot wallets. Exodus also provides an NFT gallery for storing non-fungible tokens from the Solana ecosystem.

Another exciting feature of Exodus is its compatibility with the famous cold wallet brand Trezor. Due to their compatibility, traders and investors can manage their Trezor devices using the Exodus desktop application.

In a recent update, the team behind this wallet have added an in-wallet sports betting option by integrating SportX into their platform. Leveraging this feature wallet, users can place bets on various sports and eSports events worldwide. This service is designed to function on the Polygon blockchain.

Considering the pace at which the crypto gambling industry is developing, it is just a matter of time before Exodus and other crypto wallets will integrate Bitcoin casino functionality.

Trust Wallet 

Key Features of Trust wallet:

• Transactions with a credit/debit card or bank transfer 
• Integrated decentralized apps (DApps) function
• Multi blockchain network token support
• Compatibility: best used on Android and iOS devices

Trust Wallet is a software-based hot wallet owned and managed by the Binance exchange. As a non-custodial wallet, it was designed to ensure users have total control over their private keys. In simpler terms, this wallet allows users to have complete control over their cryptocurrencies and NFTs.

Trust wallet’s reputation as a user-friendly crypto wallet can be attributed to its simple and practical features. Initially, this wallet only supported ERC20 and ERC223 tokens. However, this wallet can now store digital assets based on other blockchains, such as Cosmos and Solana.

Due to its integration with other blockchain tokens, this multi-currency crypto wallet allows its users access to over 150 digital currencies. Trust wallet also provides a secure platform for storing ERC721 and ERC1155 NFTs.

This wallet is available for download only on Apple and Google play store. 

Meta Mask

Key Features of MetaMask wallet

• Supports tokens and NFTs on the Ethereum blockchain
• Integrated decentralized apps (DApps) function
• Compatibility: desktop and mobile devices

MetaMask is a crypto wallet designed specifically for the Ethereum ecosystem. Often described as a gateway into the DeFi space, MetaMask allows its users to store their ERC 20 tokens while accessing services built on the Ethereum network.

Like many other crypto wallets on this list, the crypto wallet has a desktop and mobile version. The desktop version is compatible with browsers like Google Chrome and Firefox. Additionally, it also supports Chromium-based browsers.

The mobile version is designed to store crypto assets and NFTs on IOS and Android devices. All versions of this crypto wallet offer the same functionality and allow users easily access decentralized apps (Dapps).

MetaMask can also interact with web pages when it is installed as a browser plug-in. It accomplishes this by adding web3.js, a JavaScript library on every webpage a user visits.

Safepal

Key Features of SafePal

• Integrated decentralized apps (DApps) function
• Multi blockchain network token support
• Compatibility: Android and iOS devices

SafePal is another crypto wallet on the list that is backed by the Binance exchange. This wallet holds the record of being the first hardware wallet to be backed by Binance Labs. Although SafePal is popular for its hardware wallets, the team behind this project have developed a software version for users. This version is available for IOS and Android devices.

Currently, this wallet supports over 10,000 digital assets from more than 15 blockchains. These include the Binance smart chain, Solana, and QTUM blockchain.

Similar to the Phantom wallet, SafePal allows its users to earn rewards for staking their SFP tokens.

Bottom line

Regardless of the broad needs that the crypto community has, there are crypto wallets that provide the functionality to fulfill the demands of every crypto user.